The founder of Vedanta Resources and Sterlite Industries is the billionaire Anil Agarwal
Vedanta Resources plc is a diversified and integrated metals and mining group headquartered in London, England.
Net Worth$3.5 B As of March 2012 At a Glance
Source of Wealth: Mining, metals, Self-made
Residence: London, United Kingdom
Country of Citizenship: India
Marital Status: Married
#314 Forbes Billionaires
#15 in India
Former trader of scrap metals Anil Agarwal runs London-listed, $11.4 billion (revenues) Vedanta Resources whose stock nearly halved in past year. He bought its shares in bid to boost investor confidence after government stopped company from mining bauxite in eastern India following protests over its mining practices. Expanded into oil: his deal to buy a 59% stake in Cairn India, which owns country's biggest onshore oilfield, finally secured crucial approval from government after objections from state-owned oil explorer ONGC caused delay. Brother Navin is now chairman of oil outfit and daughter Priya sits on its board. Recently announced plan to merge Indian units Sesa Goa and Sterlite
Industries. His much-touted Vedanta University, to which he pledged $1 billion, is stalled owing to problems related to land acquisition.
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